Philip Hoffman, Founder and CEO of The Fine Art Group, spoke with Bloomberg about the rising demand for fine art by the wealthy in relation to recent decisions by private financial institutions in Australia and New Zealand to sell company art collections.
Morgan Long, Managing Director of The Fine Art Group, spoke with Barrons about Christie’s sale of the Paul Allen Collection, what masterpieces she hopes to see for sale in November, and what this might mean about the health of the upcoming auction season.
Our CEO and Founder Philip Hoffman spoke with the National Irish Radio Show Newstalk about art collecting, the art and collectibles market, and the New York 2022 Spring Auctions.
Our CEO & Founder spoke with The New York Times journalist Robin Pogrebin after the land mark auction, where rare Andy Warhol silk-screen Shot Sage Blue Marilyn was sold for a record breaking $195 million. Although Marilyn fetched an outstanding price, is it against the trend of a disappointing sale?
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Bringing Together the Complementary Skills and Resources of The Fine Art Group and Schwartzman&
New York & London – March 31, 2022:
Allan Schwartzman and Philip Hoffman, principals of Schwartzman& and The Fine Art Group, respectively, today announced plans to collaborate on key business initiatives to provide enhanced advisory services to existing and future clients. By leveraging the complementary skills and resources of their two firms, Allan and Philip will be uniquely positioned to address the needs of an ever changing market for both multigenerational and emerging collectors, in addition to artists and institutions. Specific areas of collaboration will include services ranging from valuations and collection development to investment opportunities and philanthropic giving, among others.
Allan Schwartzman commented, “What may appear as an unlikely alliance is born from mutual respect and shared values. Rather than exist as competitors, Philip and I recognize the unique opportunity that we can create for our clients and the broader market. Philip has spent decades building a specific set of skills and experience that I don’t currently offer in-house. Additionally, given the size and scope of his firm, he engages with a pool of clients that I may not necessarily encounter. Together, we can be a more meaningful resource for our respective clients.”
“As a curator and thought leader, Allan has built a unique space and reputation in the art world,” said Philip Hoffman. “His strategic vision is sought after by some of the most esteemed collectors, artists and institutions in the world. Adding his expertise and experience to even a handful of opportunities, while we each maintain our independence and separate businesses, allows us to do something truly unique in the marketplace. And as our firm has recently expanded our presence in the United States, this alliance with Allan and his team is perfectly timed. We both believe deeply in the future of collecting, and together we have the collective knowledge and resources to address not only today’s market but to help shape the future.”
Over three decades, Allan and Philip have distinguished themselves and built successful businesses serving clients across all aspects of the art world. Beginning his career as a curator and a founding staff member of the New Museum of Contemporary Art in New York, Allan has guided the formation of private and public collections, executed legacy and market development strategies for artists (including estates and foundations), and formulated cultural development plans for civic projects – services now part of his firm, Schwartzman&. Philip began his career in the financial services industry before joining Christie’s and rising to the level of the Deputy CEO of Europe. He then spent 20 years, building his firm, The Fine Art Group, into an international market leader in art investment, art finance and art advisory that operates in six countries.
The idea of a potential collaboration between the two firms gathered steam when Jan Prasens was appointed Deputy Chairman of The Fine Art Group in September 2021. During his more than two decades at Sotheby’s, Jan worked closely with Allan Schwartzman and was eager to explore ways to work together. While the collaboration does not include any financial investment or ownership stake in each other’s firms, The Fine Art Group’s New York-based team will share space with Schwartzman& in their West 22nd Street offices in Chelsea.
Headquartered in the Dia Art Foundation building in New York, Schwartzman& offers comprehensive advisory services to the full spectrum of individuals and organizations, private and public, involved in forming, assessing, or rethinking the possibilities of art collections. The team of sixteen brings expertise from all aspects of the art world including galleries, museums, auction houses, artist studios and foundations. As part of an ongoing commitment to foster a dialogue around developments in the rapidly changing world of art, Schwartzman& is pleased to help bring the art world symposium Talking Galleries to New York on April 4 & 5, 2022. The event will bring together museum directors, gallerists, curators, artists, scholars, journalists, non-profit leaders, auction houses and art fair executives to tackle the significant issues facing the art world today. Schwartzman& also recently debuted the podcast Hope & Dread in collaboration with Charlotte Burns. The documentary series examines recent clashes of power in culture with interviews by more than 30 guests, from artists to museum directors, philanthropists to politicians.
ABOUT THE FINE ART GROUP
Recently marking its 20th anniversary, The Fine Art Group is an independent global team of nearly 60 advisors and art finance experts committed to supporting clients across all collector markets through its five core service offerings: Advisory, Art Finance, Sales Agency, Investment, and Appraisals. From asset-secured loans and consignment management to their position as the world’s leading art investment house, The Fine Art Group offers a unique set of services and expertise in today’s art world with locations in London, New York, Los Angeles, Philadelphia, and Dubai. The acquisition of Pall Mall Art Advisors in 2021 brought even greater depth and wider global reach, with in-house expertise now spanning Western Art from 1500 to the present day, as well as fine jewelry, watches and valuable collectibles, and a trusted network of vetted consultants for bespoke category insight.
Schwartzman&: Tommy Napier, email@example.com
The Fine Art Group: Daryl Boling, firstname.lastname@example.org
“The proportion of Russian (art) buying has diminished since most so-called oligarchs made their collections between 2000 and 2015.”
Senior Director Guy Jennings speaks to Melanie Gerlis at The Financial Times to discuss the impact of the UK government’s decision to ban art exports to Russia on the current art market.
“That insane market we started to see already in November, a lot of it was a preparation for an increase in inflation, knowing it was coming, preparing for it,” said Anita Heriot, the Fine Art Group’s president of the Americas, referring to the bellwether New York auctions. “People have a lot of liquidity and they need to put it into hard assets.”
Artnet’s Katya Kazakina speaks with Anita Heriot about inflation’s impact on the current art market.
Read the full article here.
“The focus is very much on the best of the best. Clients want the best blue diamond, the best wristwatch, the best impressionist picture, but the second rate is of no interest.” It isn’t, Hoffman says, “a case of digging deep into a particular artist. It’s more about having a well-known and ostentatious collection.”
Bloomberg’s James Tarmy gained valued insight from The Fine Art Group’s Philip Hoffman about the appetite for collecting in Asia.
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“The industry proved popular during the depths of the pandemic as ultra-wealthy individuals tapped art collections as a source of cash when other assets were frozen or plunging in value.”
Our CEO of Art Finance, Freya Stewart, and Bloomberg journalist Harriet Habergham discuss the increasing use of art finance, and the current appetite amongst investors for debt products backed by art.
“Our in-house art experts have years of experience in fine art valuation, which means we are able to assess the suitability of potential collateral accurately and quickly. The more difficult artworks for lending purposes are particularly atypical examples by an artist, or those which are outsized.”
Founder and CEO Philip Hoffman speaks to Andrew Shirley and The Wealth report, Knight Frank’s global thought-leadership publication for its UHNWI clients and their advisors.
Together, they discuss art as an investment, and how it is increasingly used as an asset to borrow against by clients across the globe who are looking to release meaningful capital from their own collections of art and jewellery.
To learn more about borrowing against art and the loan process here at The Fine Art Group, please click on the link below.